First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Increased by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125 shares of the bank’s stock after buying an additional 10 shares during the period. Tcfg Wealth Management LLC’s holdings in First Citizens BancShares were worth $264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates raised its position in shares of First Citizens BancShares by 5.1% during the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after purchasing an additional 811 shares during the period. Balentine LLC acquired a new stake in shares of First Citizens BancShares during the third quarter worth $3,564,000. Hiddenite Capital Partners LP raised its position in shares of First Citizens BancShares by 14.1% during the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after purchasing an additional 400 shares during the period. Retireful LLC acquired a new stake in shares of First Citizens BancShares during the third quarter worth $801,000. Finally, JPMorgan Chase & Co. raised its position in shares of First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after purchasing an additional 18,501 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $2,141.49 on Friday. The company has a market cap of $29.96 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The stock has a 50-day moving average of $2,143.80 and a 200-day moving average of $2,065.70. First Citizens BancShares, Inc. has a 52-week low of $1,475.85 and a 52-week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FCNCA shares. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Piper Sandler lifted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Truist Financial lifted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.